Aerojet Rocketdyne Holdings Inc (NYSE:AJRD) – Analysts at Jefferies Financial Group upped their Q4 2018 earnings estimates for shares of Aerojet Rocketdyne in a note issued to investors on Tuesday, October 30th. Jefferies Financial Group analyst G. Konrad now expects that the aerospace company will earn $0.39 per share for the quarter, up from their previous estimate of $0.35.
Aerojet Rocketdyne (NYSE:AJRD) last issued its quarterly earnings data on Tuesday, October 30th. The aerospace company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.13. Aerojet Rocketdyne had a return on equity of 42.70% and a net margin of 3.11%. The business had revenue of $497.20 million for the quarter, compared to analysts’ expectations of $479.64 million. During the same period last year, the business earned $0.17 EPS. The business’s revenue was up 3.0% on a year-over-year basis.
Several other equities analysts have also recently weighed in on AJRD. ValuEngine upgraded Aerojet Rocketdyne from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research cut Aerojet Rocketdyne from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. TheStreet upgraded Aerojet Rocketdyne from a “c+” rating to a “b” rating in a research note on Friday, August 3rd. Finally, SunTrust Banks lifted their target price on Aerojet Rocketdyne from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, August 21st.
Shares of NYSE:AJRD opened at $36.86 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.60 and a debt-to-equity ratio of 0.90. Aerojet Rocketdyne has a 1-year low of $24.41 and a 1-year high of $38.50. The firm has a market cap of $2.77 billion, a price-to-earnings ratio of 29.19, a P/E/G ratio of 5.06 and a beta of 0.90.
A number of institutional investors have recently made changes to their positions in AJRD. Eagle Asset Management Inc. raised its stake in Aerojet Rocketdyne by 230.1% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,560,632 shares of the aerospace company’s stock valued at $46,023,000 after acquiring an additional 1,087,866 shares during the period. Carillon Tower Advisers Inc. raised its stake in Aerojet Rocketdyne by 197.6% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,324,247 shares of the aerospace company’s stock valued at $39,051,000 after acquiring an additional 879,297 shares during the period. Victory Capital Management Inc. raised its stake in Aerojet Rocketdyne by 27.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,550,475 shares of the aerospace company’s stock valued at $104,703,000 after acquiring an additional 768,151 shares during the period. Advisors Asset Management Inc. bought a new stake in Aerojet Rocketdyne in the 2nd quarter valued at about $278,000. Finally, Waddell & Reed Financial Inc. bought a new stake in Aerojet Rocketdyne in the 2nd quarter valued at about $7,081,000.
In other news, Director Martin Turchin sold 5,000 shares of Aerojet Rocketdyne stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $36.43, for a total transaction of $182,150.00. Following the sale, the director now directly owns 90,650 shares in the company, valued at approximately $3,302,379.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.20% of the company’s stock.
About Aerojet Rocketdyne
Aerojet Rocketdyne Holdings, Inc designs, develops, manufactures, and sells aerospace and defense products and systems in the United States. The company operates through two segments, Aerospace and Defense, and Real Estate. The Aerospace and Defense segment offers aerospace and defense products and systems for the United States government, including the Department of Defense, the National Aeronautics and Space Administration, and aerospace and defense prime contractors.
Read More: What is the Book Value of a Share?
Receive News & Ratings for Aerojet Rocketdyne Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Aerojet Rocketdyne and related companies with MarketBeat.com's FREE daily email newsletter.